In the third quarter, GDP expanded 1.5% over the same period last year, according to a preliminary flash estimate release by the Czech Statistics Office (CSO) on 15 November. The quarterly reading represented a deceleration compared to the 2.2% expansion observed in the second quarter and fell short of both market expectations of a 1.6% rise and the Central Bank's growth estimate of 1.7%. A quarter-on-quarter comparison suggests a sharper deterioration of the economy than the deceleration suggested by the annual figures, as GDP remained unchanged in seasonally adjusted terms, which contrasted the 0.1% increase observed in the second quarter. More detailed data will be published on 9 December. The Central Bank sees the economy growing 2.0% in 2011, which is virtually unchanged from its previous 2.1% estimate. However, for 2012 the Bank cut its growth projections and now expects the economy to expand 1.2%, down from its previous 2.2% estimate. Monetary authorities stated that the austerity measures adopted by the government and the ongoing slowdown in the Eurozone (the country's main exports destination) will dent economic growth in the coming year.
Czech Republic GDP
Economy slows in the third quarter
November 15, 2011
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Czech Republic Economic News
October 24, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from September’s 97.1 points to 97.5 points in October, marking a nine-month high.
October 10, 2016
In September, consumer prices fell 0.2% from the previous month, matching August’s reading.
October 7, 2016
Industrial production grew 13.1% year-on-year in August, which sharply contrasted the 14.1% fall registered in July and was the best result since May 2011.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit rose from August’s 50.1 to a four-month high of 52.0 in September.
September 29, 2016
At its meeting on 29 September, the Czech National Bank (CNB) decided to leave the two-week repo rate unchanged at its so-called “technical zero” of 0.05%.